Saudi Electricity Company (SEC) said on Monday that it has received bids from five consortiums to build, own and operate a 2,000 megawatt (MW) power plant in Riyadh. The combined cycle plant, known as PP11, will boost power supply to the capital of the world's top oil exporter and forms part of the utility's $20 billion plan to add at least 10,000 MW capacity through six independent power producer (IPP) projects. SEC also has plans to spend $80 billion adding a total of 20,000 MW through 2018. SEC's capacity is around 40,000 MW. A Dec. 7 deadline for bids was extended to Dec. 20. In a statement SEC's chief executive Ali al Barrak said: “Investments in the project would amount to $3.2 billion.” He added that the plant would come online in summer 2013. Amr Aswaha, head of projects for independent power projects in July said that the gas-fired plant will be built in two phases. He added:”We expect an award by the end of March and a financial close in May.” Last October, SEC signed a SR6.9 billion ($1.8 billion) contract with a consortium of firms to increase electricity output in the Kingdom. Saudi firm, Arabian Bemco Contracting and Korean company Doosan Heavy Industries & Construction signed the deal for the expansion of services at the Qurayat power plant. Saleh Al-Awaji, deputy minister of electricity and vice chairman of SEC, said out of three bidders, the consortium had submitted the lowest bid. The project is to become operational before June 2014 and is expected to add 1,241 MW to the Qurayat plant, the largest utility in the Gulf by market value.
